Big Data is the term used to describe the mass of data that companies accumulate; data that is too large and diverse for traditional technologies and infrastructure to handle.
Big Data can help you perform better
When organized and implemented properly, big data can allow companies to perform in-depth information analysis that can mean the difference between being a top-performing company and an average one. This is because access to an incredibly large sample of information allows employees within the company to gain insights that help them design better strategies, and make data-proven decisions instead of hunch-based decisions.
Of course, this is not the case for all companies.
Big Data is Expensive
The big problem with big data (no pun intended), is that it takes a lot of time, energy, and money to collect and analyze it properly. Companies must take a gamble that the data they find will be incredibly useful to them; if it's not, then that time, energy, and money spent collecting it was a waste.
Store Big Data in the Cloud
Or was it? Whether or not a company decides to expend resources for ongoing big data analysis, the data can be stored in the cloud at a relatively low cost. It is an investment that makes sense for many companies because it allows organizations to analyze their data within a reasonable timeframe and at a feasible cost. Access to this kind of information could allow companies to discover new business opportunities or streamline operations.
As more and more devices become connected with the internet, more and more data will be available. Organizations who want to stay ahead in their industries will find ways to analyze and use their big data.